Ponzi

Fake Pastors Swindle Churchgoers In $28 Million FX/Crypto Ponzi Scheme 

The Securities and Exchange Commission (SEC) filed charges against two Maryland companies and their principals allegedly defrauding more than 1,000 investors in a $28 million Ponzi scheme.  The SEC first filed the complaint against 1st Million LLC and Smart Partners LLC, and their principals, Dennis Jali, John Frimpong, and Arley Johnson, in August, for defrauding…

SEC Warns Ponzi Scheme Complaints See "Significant Uptick" In COVID World 

The U.S. Securities and Exchange Commission (SEC) released a statement Monday to investors, warning that the agency has experienced “a significant uptick in tips, complaints, and referrals involving investment scams.” The SEC’s Office of Investor Education and Advocacy urged investors to be on “high alert” for fraudsters during the COVID-19 pandemic. The agency warned against…

FBI Arrests Ponzi Suspect After Daring Escape On Underwater Scooter

A fleeing Ponzi scheme suspect is now in custody after a daring escape on a submersible scooter from FBI agents, reported CBS Sacramento. Court documents, filed with the U.S. Attorney’s office said Matthew Piercey, 44, a suspect in a $35 million Ponzi scheme, used a Yamaha Seascooter to evade FBI agents under the surface of Lake…